Talisman Energy Given New $16.00 Price Target at Canaccord Genuity (TLM)
Research analysts at Canaccord Genuity upped their target price on shares of Talisman Energy (NYSE: TLM) from $14.50 to $16.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “We applaud management for its recognition of issues that have plagued the company and for providing a defined plan of attack ($2-3 billion in asset sales, a sharpened focus on two core areas, and a cost-reduction initiative). However, we believe the somewhat muted share price reaction is a sign that the market wants to see more done sooner rather than later. Therefore, we continue to believe that TLM is prone to activism, and that it is the last of the Canadian Sr’s that can be acquired by a foreign entity.”
Shares of Talisman Energy traded down 0.18% during mid-day trading on Thursday, hitting $12.16. Talisman Energy has a 52 week low of $9.46 and a 52 week high of $15.21. The stock’s 50-day moving average is currently $12.38. The company has a market cap of $12.464 billion and a P/E ratio of 1218.25.
Talisman Energy last posted its quarterly earnings results on Wednesday, February 13th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.26. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.80 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 22.9% on a year-over-year basis. On average, analysts predict that Talisman Energy will post $0.37 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TLM. Analysts at Deutsche Bank initiated coverage on shares of Talisman Energy in a research note to investors on Friday, March 1st. They set a “hold” rating and a $14.00 price target on the stock. Separately, analysts at Credit Suisse upgraded shares of Talisman Energy from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, February 21st. They now have a $16.00 price target on the stock, up previously from $15.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Talisman Energy in a research note to investors on Monday, February 18th. They now have a $13.00 price target on the stock.
Four equities research analysts have rated the stock with a buy rating, two have given an overweight rating, and nineteen have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “hold” and a consensus price target of $14.10.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 29th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.07 per share. This represents a $0.27 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, March 7th.
Talisman Energy Inc. (Talisman) is a global, diversified, upstream oil and gas company. The Company’s business activities include exploration, development, production, transportation and marketing of crude oil, natural gas and natural gas liquids.
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